Bitcoin free falls to all new bust lows

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Macro Afternoon

New lows for the great ponzi scam:


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David Llewellyn-Smith
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  1. What I find utterly bizarre is that the things are still worth $3.5K instead of 75 cents or so, which is what they should be worth given the actual value that they represent. Weird.

  2. Ajaydee73MEMBER

    “Bitcoins biggest role was to allow small businesses to buy coins, transfer them to their own personal accounts, and cash out. Basically tax evasion.”

    That would not work for tax evasion.

  3. Former JPMorgan top analyst Tom Lee has Bitcoin reaching USD91,000 in 2020.

    Well, anything is possible.

    It will be a fantastic call if he gets it right. if it stays under USD4000 or goes down to around $1 he becomes a laughing stock.

    I have never traded the stuff – seemed like an absurd trading concept back in 2009 unless you were into money laundering business/drug trade so long as the transfers remained untraceable.

    Bitcoin could out bubble the Dutch tulip bubble by several magnitudes and makes our housing bubble look pretty tame in comparison.

    • C.M.BurnsMEMBER

      bitcoin has already had it’s bubble. It won’t ever regain the heights; hell I don’t think it will ever be the price it again right now.

      The main reason I think this is that all the “reasons” that all the crypto spruikers used to justify crypto’s “value”, are slowly being eroded away. AM, know your customer etc. The authority’s crack-down on exchanges and bringing ICO’s under the same rules as other financial products etc.

      And also, on the legitimate use side of things, various banks and other entities are releasing offerings which solve the same legitimate problems that crypto were supposed to, only miles better

  4. I’m quite sure there were a few of us, who have actually been participating in this market, calling for 3k months back. Now we’ve built above, likely we’ll seek into 2.5-2.8k liq.

    Another k to fill if no bids are resting there.

    If this really goes to zero you blokes that have been calling short side all year will be rich yeah? Oh wait, you had zero skin in the game 🤦‍♂️😅

    Plenty of chances to get short side exposure, and plenty of means of doing so, all year.. Missed them all hey?

    That’s a shame 👍..but please continue sharing how smart you are for calling the top you made zero dollars off 🤘😅